BC 2014 07 21 Regular Meeting - Laserfiche WebLink

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July 21, 2014 (Regular Meeting) Page 2119 WHEREAS, Rinker Commercial Properties have paid the required five percent (5%) deposit an their offer; THEREFORE, THE CABARRUS COUNTY BOARD OF COMMISSIONERS RESOLVES THAT; 1. The County Commissioners authorize the sale of the property described above through the upset bid procedure of the North Carolina General Statute 160A -269. 2. The County Clerk shall cause a notice of the proposed sale to be published. The notice shall describe the property and the amount of the offer, and shall state the terms under which the offer may be upset. 3. Persons wishing to upset the offer that has been received shall submit a sealed bid with their offer to the County Manager within 10 days after the notice of sale is published. During the 10 -day bidding period, the Clerk shall open any bids received, if any, and the highest such bid shall become the new offer. If there is more than one bid in the highest amount, the first such bid received will become the new offer. 4. If a qualifying higher bid is received, the County Clerk shall cause a new notice of upset bid to be published, and shall continue to do so until, a 10 -day period has passed without any qualifying upset bids having been received. At that time, the amount of the final high bid shall be reported to the County Commission. 5. A qualifying higher bid is one that raises the initial or existing highest offer by not less than ten percent (10%) of the first $1,000.00 of the previous offer and five percent (5$) of the remainder of that offer. 6. A qualifying higher bid must also be accompanied by a deposit in the amount of five percent (5 %) of the bid, the deposit made in cash, cashier's check, or certified check. The County will return the deposit on any bid not accepted, and will return the deposit on an offer subject to upset if a qualifying higher bid is received. The County will return the deposit of the final high bidder at the closing. 7. The terms of sale are that a. The County Commission must approve the final high offer before the sale is closed, which it will do within 30 days after the final upset bid period has passed, and b. The buyer must pay with cash at the time of closing. 8. The County reserves the right to withdraw the property from sale at any time before the final high bid is accepted and the right to reject at any time all bids. Adopted this 21 day of July, 2014. /s/ Elizabeth F. Poole Elizabeth F. Poole, Chairman Board of Commissioners ATTEST: /s/ Megan I.E. Smit Megan I.E. Smit, Clerk to the Board t I I �rca r __ — _• ' }h �_